House Purchased On/Before 9 May 2017 Depreciation Examples
EXAMPLE – Depreciation & Capital Allowances – House Purchased On/Before 9 May 2017 – Northgate Queensland 4013
| Location: | Northgate QLD 4013 |
|---|---|
| Property Type: | Highset, 3 bed, 2 bath, dwelling with undercover carparking & storage |
| Purchase Price: | $550,000 |
| Settlement Date: | September 2014 |
| Available for Lease: | December 2015 |
| Construction Date: | February 2003 |
| Total depreciation calculated for the 1st full year: | $5,544 |
| Total depreciation calculated over a 5 year period: | $22,313 |
| Total depreciation calculated over a 10 year period: | $41,296 |
| Total depreciation calculated over a 40 year period: | $107,262 |
NOTE: The property was purchased on/before 9 May 2017 and was used in the 2016/17 financial year as an investment property. Under the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 Chapter 2 – Limiting deductions for plant and equipment in residential property, the plant and equipment items identified within the property under Division 40 or Subdivision 328-D are eligible to be deducted under Division 40.
EXAMPLE – Depreciation & Capital Allowances – House Purchased On/Before 9 May 2017 – Pottsville New South Wales 2489
| Location: | Pottsville NSW 2489 |
|---|---|
| Property Type: | 2 level, 5 bed, 2 bath, dwelling with double lockup garage |
| Purchase Price: | $468,000 |
| Settlement Date: | April 2012 |
| Available for Lease: | April 2017 |
| Construction Date: | July 2009 |
| Total depreciation calculated for the 1st full year: | $9,422 |
| Total depreciation calculated over a 5 year period: | $35,579 |
| Total depreciation calculated over a 10 year period: | $71,901 |
| Total depreciation calculated over a 40 year period: | $227,314 |
NOTE: The property was purchased on/before 9 May 2017 and was used in the 2016/17 financial year as an investment property. Under the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 Chapter 2 – Limiting deductions for plant and equipment in residential property, the plant and equipment items identified within the property under Division 40 or Subdivision 328-D are eligible to be deducted under Division 40.
EXAMPLE – Depreciation & Capital Allowances – House Purchased On/Before 9 May 2017 – Cannon Hill Queensland 4170
| Location: | Cannon Hill QLD 4170 |
|---|---|
| Property Type: | 2 level, 4 bed, 2 bath, dwelling with study and double lockup garage |
| Purchase Price: | $465,000 |
| Settlement Date: | September 2006 |
| Available for Lease: | January 2016 |
| Construction Date: | September 2006 |
| Total depreciation calculated for the 1st full year: | $11,307 |
| Total depreciation calculated over a 5 year period: | $45,684 |
| Total depreciation calculated over a 10 year period: | $86,979 |
| Total depreciation calculated over a 40 year period: | $252,650 |
NOTE: The property was purchased on/before 9 May 2017 and was used in the 2016/17 financial year as an investment property. Under the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 Chapter 2 – Limiting deductions for plant and equipment in residential property, the plant and equipment items identified within the property under Division 40 or Subdivision 328-D are eligible to be deducted under Division 40.
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